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Can somone please give me some info on it I would like to know if I can use it to run import games on my PS2 or not and with the file being downloaded to a memory card it wont alter my PS2 in anyway (if the memory card with it on is not in the console it wont load up) and is it difficult to set up and use

The exploit doesn't enable your PS2 to play imports or copied games. Because it relies on a PS1 disc to run, if you don't have the PS1 disc that you've designated to trigger the exploit in the disc drive, then the exploit will not trigger. It does not affect your PS2 in any other way described in the exploit's README.